Seattle Genetics Inks $200M Licensing Deal with Pfizer

For anyone hoping to get in on the ground floor of Seattle Genetics Inc.'s antibody-drug conjugate (ADC), it's already too late. The licensing deal by Pfizer Inc. for access to a single target, at $8 million up front and $200 million in milestones, was closed at a significant premium over a similar deal in December 2009 with GlaxoSmithKline plc. In that deal, GSK paid $12 million up front with $390 million in milestones for several targets.